Tim Cook, the operations leader who succeeded Apple Inc. co-founder Steve Jobs and led the company to becoming one of most valuable in the world, will step down as CEO on Sept. 1, the company said Monday.
Apple’s new CEO will be John Ternus, another veteran of the company who has served as the company’s hardware chief, overseeing some of Apple’s most crucial products
“I am profoundly grateful for this opportunity to carry Apple’s mission forward,” Ternus said in a statement. “I have been lucky to have worked under Steve Jobs and to have had Tim Cook as my mentor.”
Cook will become executive chairman of Apple’s board. The company said in a statement that he will assist the company and engage with policymakers around the world.
“I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world,” Cook said in a statement.
He added: “John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor.
Under Cook’s stewardship, Apple launched hugely popular devices (including the Apple Watch and AirPods) and reoriented itself in part as a services company that takes in billions of dollars off products like Apple Music and Apple TV+. But more forward-looking projects, like the company’s car initiative, faltered after years of work, while products like the Vision Pro headset and Apple Intelligence have called Apple’s focus — and its future — into question.
While not every Apple initiative in the Cook era was a rip-roaring success, the continued influence and success of core products like the iPhone helped propel the company to being one of the most valuable in the world.
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